My instructor was on a CBR1000 Fireblade, whilst I was on the 600.
It's a structured day and you get good feedback on your riding.
From what I can remember the general structure of the day was:
-Sign on
-Get kitted out in their leathers etc or you can use your own kit
-Group briefing
-Class room briefing to advise you on circuit flags and rules of the day
-You get allocated an instructor, a bike number and a team mate
-First session is to help you adjust to the track and to give the instructor an idea of your skill level. The instructor wants you to follow his lines, turn ins, apex points...
-Pit Garage briefing - they demonstrate body position on the bike and how to move around correctly.
-Then it's back on track for 15-20 mins, pit, repeat.
-Instructor will keep asking for your feedback too, anything that helps to improve your riding.
-Last session is generally where people go for it and maybe the instructor will let you lead the group
Family & Friends can stroll around and watch from Pit Lane.
When I did the event it was my first time on a 600 and my first track experience too. I wasn't quick but learnt a bit and enjoyed it.
It is a very well controlled atmosphere, the instructor has good control and will tell you to move over if a faster group is approaching. Saying that; Leon Haslam who was out playing came by me side ways with smoke coming off his tyres!
As far as I know they won't give you another bike if you crash, so stay upright
